ANALYST VIEWS: WILL WE SEE SALES IMPROVE AT HOME RETAILL ?

There is not much to see here. The period has been short and is low volume. The figures are poor, but not unexpected. Argos may benefit from the demise of Game, but there are plenty of other retailers competing for the same business.

DAVID JEARY | INVESTEC

The news is that there is no change to the full year forecast... the less good news is that Argos has seen no improvement in its like-for-like run rate and the debate around cyclical pressures versus structural decline is set to continue.

RICHARD HUNTER | HARGREAVES LANSDOWN

The statement shows a sharp decline in sales at its flagship Argos division, as well as in its Homebase unit...It is difficult to envisage an end to current woes, as economic hardship intensifies and competition shows no sign of slowing.